Honda website
Honda website

FEBRUARY 10, 2004

Renault profits encouraging

Renault has announced better than expected earnings for 2003. Europe's fourth largest car company said that its profits had jumped 27% to $3.1bn. The results were in part due to the sales of the Megane range but also to the success of the cooperation with Nissan and cost-cutting. Nissan's activities added $2.4bn to the Renault balance sheet. The company continues to see improved profitability outside western Europe as the key to growth in 2004. In this respect, therefore, the Formula 1 programme will help the company as it seeks to expand sales.